Upper-Lower
For Sale
$249,900
1518 ELM Street, Green Bay, WI 54302
Two-level residential income property with separate parking areas, alley access, and a detached two-car garage.
Property Size1,404 SF
Price / SF$177.99
Days on Market17
Property Features for 1518 ELM Street
General Information
Standard status
Active
Size
1,404 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,616
Building Details
Building Size
1,404 SF
Year Built
1913
Buildings
1
Listing Agency:
Northland Realty LLC
Listed By:
Mandy J. Baier · License #91-905211
(920) 680-7567
Source:
C21ace
Added: Sep 11
Changed: Sep 14
Last Checked: Sep 26 at 1:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Northland Realty LLC
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,404 square feet in an upper-and-lower configuration. Property improvements include flooring updated in 2022, a newer roof, and replacement cabinetry in the upper unit. The layout provides separate residential spaces within a property built in 1913.
Located at 1518 ELM Street in Green Bay, Wisconsin, the property includes a large yard, dual parking areas, alley access, and a 2-car garage. These existing site and building features support residential rental use while preserving flexibility for an owner-occupant arrangement.
Located at 1518 ELM Street in Green Bay, Wisconsin, the property includes a large yard, dual parking areas, alley access, and a 2-car garage. These existing site and building features support residential rental use while preserving flexibility for an owner-occupant arrangement.
Key Highlights
- Upper‑and‑lower duplex configuration with 1,404 square feet
- Flooring updated in 2022
- New cabinetry in the upper unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,259
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$245,180
$245.2K
Cap Rate 7%
$175,129
$175.1K
Cap Rate 9%
$136,211
$136.2K
Market Conditions
NOI Build-Up for 1,404 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.5K $13.20/SF
− Vacancy
−$1.0K −$0.73/SF
EGI
$17.5K $12.47/SF
− OpEx
−$5.3K −$3.74/SF
NOI
$12.3K $8.73/SF
Area
Green Bay, WI
Vacancy
5.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$245,180
Cap Rate 7%
$175,129
Cap Rate 9%
$136,211
Alternative Uses
Best Use
Multifamily LT 5
$175.1K
$153.2K – $204.3K
NOI $12,259 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$163.1K
$142.8K – $190.3K
NOI $11,420 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$327.3K
$286.4K – $381.9K
NOI $22,913 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Explore this area
Business Placement
Demographics for 54302, WI
31,327
Population
13,390
Households
2.3
Avg Household Size
34
Median Age
19%
College-Educated
81%
High-School Grad
9.2 sq mi
ZIP Area
3,405
Density / Sq Mi
$55,772
Median Household Income
$37,257
Median Earnings
$881
Median Rent
$164,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level residential income property with separate parking areas, alley access, and a detached two-car garage.
Where is this duplex located?
The property is located at 1518 ELM Street Green Bay, WI.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Upper‑and‑lower duplex configuration with 1,404 square feet; Flooring updated in 2022; New cabinetry in the upper unit
